Sun Life Financial (TSE:SLF – Free Report) (NYSE:SLF) had its price objective raised by National Bank Financial from C$108.00 to C$125.00 in a research note published on Thursday,BayStreet.CA reports. The brokerage currently has an outperform rating on the financial services provider’s stock.
A number of other equities analysts have also weighed in on SLF. Canadian Imperial Bank of Commerce increased their target price on shares of Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. Barclays upped their price target on shares of Sun Life Financial from C$84.00 to C$85.00 in a research note on Wednesday, April 8th. Scotiabank raised their price objective on shares of Sun Life Financial from C$98.00 to C$111.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. Desjardins set a C$101.00 price objective on shares of Sun Life Financial and gave the company a “buy” rating in a research note on Friday, April 17th. Finally, BMO Capital Markets boosted their target price on shares of Sun Life Financial from C$99.00 to C$105.00 in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$109.36.
Get Our Latest Analysis on Sun Life Financial
Sun Life Financial Stock Performance
Sun Life Financial (TSE:SLF – Get Free Report) (NYSE:SLF) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 EPS for the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%.The firm had revenue of C$8.73 billion for the quarter. On average, equities research analysts forecast that Sun Life Financial will post 6.9230769 EPS for the current year.
Sun Life Financial Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.96 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Wednesday, May 27th. Sun Life Financial’s dividend payout ratio (DPR) is currently 67.04%.
Insider Buying and Selling
In other Sun Life Financial news, Director Kevin Strain sold 104,744 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of C$96.99, for a total value of C$10,159,120.56. Following the sale, the director directly owned 42,000 shares in the company, valued at C$4,073,580. This represents a 71.38% decrease in their position. Also, insider Jacques Jr. Goulet sold 35,000 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of C$97.80, for a total transaction of C$3,423,000.00. Following the completion of the transaction, the insider directly owned 1,054 shares of the company’s stock, valued at approximately C$103,081.20. The trade was a 97.08% decrease in their ownership of the stock. Insiders sold 380,998 shares of company stock valued at $38,271,605 in the last three months. Insiders own 0.03% of the company’s stock.
Sun Life Financial Company Profile
Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm. Sun Life generates about a third of its profit from asset-management operations.
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